Seattle Mixed-Use Project Gets $76M In Financing

Law360, New York (December 16, 2011, 6:31 PM EST) -- Real estate development firms Stellar Holdings and Lorig Associates LLC have secured $75.5 million in financing from Cornerstone Real Estate Advisers LLC to pay off construction debt on a vast mixed-use development project in Seattle, the companies said Friday.

CBRE Group Inc.'s Capital Markets Debt and Equity Finance division arranged the new long-term loan, which picks up on the post-construction phase of financing for the $130 million project, called Thornton Place.

A team of investors including GE Capital provided the initial funding for a construction loan...
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